Zurich UK profit up 74% as life business falls slightly - updated

Zurich UK today announced its half-year results for the period which ended 30 June 2019. Its overall earnings are up 74% to £248m from £142m in 2018 and its combined ratio (CR) improved to 85.6% from 95.5%. While general insurance business operating profit (BOP) is up 144% in H1 2019 - to £185m from £76m same time last year - life and savings BOP (£63m) is slightly lower than the £67m reported in 2018. Life and savings annualised premium equivalent (APR) H1 results show an 8% decrease on the previous year - £172m compared to £187m - but new business value (NBV) for life (£30m) is u...